May 1, 1999

Contact:
Steve Bradt   Brandeis University News Bureau - 781-736-4203
Ellen Liss      NCWA - 781-736-3861

Waltham, Mass. -- With the average annual cost of long-term care now $51,100 and home care often just as expensive, the National Center on Women & Aging is warning older women not to rely on Medicare or Medicaid to cover costs. The April 1999 Women & Aging Letter, issued by the Brandeis University-based Center, provides the latest information on long-term care insurance and its complexities.

Over half of American women who reach age 65 can expect to spend part of their remaining years in assisted living, adult daycare, home care, or a nursing home, according to a recent article in the New England Journal of Medicine. "With the possible exception of the future of Social Security, no medical or financial topic is more important for older women than preparing for long-term care," says Dr. Phyllis Mutschler, the Center's executive director.

Planning for long-term care needs is an essential part of retirement and estate planning today -- especially for women.  Long-term care needs hit women twice, according to Mutschler:  first, in providing care for parents and other older loved ones, and then later in life when women may need long-term care themselves.

In the April Letter, James Palma, planning analyst supervisor for the Connecticut Partnership for Long-Term Care, provides a detailed checklist highlighting the critical areas to consider with long-term care insurance. "Most individuals need professional assistance in determining what coverage, if any, they would need from a long-term care insurance policy," Palma says.

Since 1995 the National Center on Women & Aging has conducted research and educational activities to promote the security, health, and dignity of women in their later years.  The Center collaborates with a broad array of women's and aging organizations to provide national leadership in addressing the many challenges facing women as they age and to promote the changes necessary to improve older women's lives.

Back to NCWA Press Release listing